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Have you considered a cash-out refinance?

 It could be a great time to refinance. Why not add solar with a cash-out?

Today’s markets are seeing some volatility, without a doubt. Many people with substantial stock portfolios are looking for ways to shelter themselves from this kind of risk moving forward. Because rates have fallen significantly, many are also finding it a great time to refinance their home’s mortgage. This can be a smart move for those in the right situation, and can open up yet another avenue for secure investment: solar energy.

Solar is a very secure investment because of how it makes its returns: by offsetting how much electricity the utilities can charge you for using. According to the U.S. Energy Information Administration, residential electricity rates have risen an average of 4% per year since 2005. That’s almost twice the rate of inflation! Even without accounting for inflation, long-term costs associated with utility purchasing far exceed that of solar.

Still, solar takes money to install, a one-time fixed cost that is mostly commensuratewith the amount of your electric usage. So by wrapping it into a refinance that might happen anyway, you can join the movement with no money down, save on closing fees, lock in a very low interest rate, and depending on the loan term, even have your “extra” payment portion for solar completely paid for by the utility savings that happen instantly! Win-win? Win-win.

Call your lender today and ask about refinance options to see if a cash-out strategy might work for you. And with changing prices, if you haven’t received a recent updated quote from Ecohouse, give us a call!

614-456-7641

 

Ecohouse is committed to the highest level of service for our customers and to using high quality solar materials on all of our installations. Our work and our solar products are designed to last for 25 years or more and come with warranties to match.

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